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Princeton School Refinancing Debt Service Bonds

Princeton School Board members agreed to refinance 2017 debt service bonds in an effort to save the district interest during their meeting Monday night.

The refinancing is estimated to save the district $1.2 million in interest. The General Obligation bonds were originally issued for $5.8 million. The refinancing is being done with L.J. Hart and Company.

Princeton’s board also approved a resolution regarding their acceptance of a USDA facilities grant that would be used to help finance an electric school bus. While the district will continue to pursue funding for the $340,000 cost of the bus, the district will only make the actual purchase of the electric bus if the purchase price is below that of a traditional diesel fueled school bus. Funding for the buses is coming from the Volkswagen Diesel Emissions Environmental Mitigation Trust Mitigation Plan developed by the Missouri Department of Natural Resources. The DNR is awarding more than $41 million to Missouri-specific projects by October 2027.

Princeton’s School Board Election Filing Period is being held December 7th through the 28th.

The board also received a report on district test scores and assessments that are included in the Missouri Assessment Program.



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